Dual Citizenship: Why Is It A Lucrative Business Investment?
Many high-net-worth individuals opt for dual citizenship due to the numerous benefits regarding lifestyle, taxes, business operations, generational benefits, and traveling.
This type of citizenship is permitted in many countries through government-approved programs known otherwise as CBI – Citizenship by Investment Programs.
Dual citizens hold legitimate nationalities from two countries – it’s possible when two countries sign a treaty on the settlement of the dual nationality issues and agree that the holder of it will abide by the laws and regulations in both countries. Alternative citizenship comes with many benefits that favor business owners and wealthy investors.
Here we’ll cover the most important key points on why investing in a second passport is a lucrative business investment and how businesses and entrepreneurs can benefit from it.
Citizenship For The Family
One of the major benefits of dual citizenship is the possibility to obtain passports for the whole family. The main applicant can include co-dependents in the application process like parents, grandparents, siblings, children, or a spouse.
The relatives will get their passports at the same time as the main applicant if they apply during the same application process.
It’s a lucrative business idea because it allows business owners to relocate their assets, resources, and close family members to another country to run the business. Moreover, if you have a family business that’s been getting international outreach.
Citizenship by investment programs allows investors to gain a lifetime of possibilities in terms of doing business abroad, expanding to new markets, and acquiring new and potential customers.
Reach Emerging And Established Markets
If you have access to more countries, exponentially you have access to new, emerging, and established markets. This means you can optimize many industries and take advantage of numerous business possibilities to expand your business affairs in a foreign land.
Depending on the country you’ll obtain the second passport, you can have access to a variety of booming industries.
For example, the outsourcing global expansion strategy is mostly implemented in the Balkan countries, Asian countries like India, Indonesia, Vietnam, the Philippines, South American countries like Brazil and Argentina, etc.
You can take advantage of the power of your passport and outsource to some of these countries for a low-cost investment that can bring you a high ROI.
Expand Your Horizons
Dual citizenship expands your horizons since you can live in a foreign country and experience a different lifestyle, learn about new cultures, and travel with ease to many other countries. You can travel visa-free to more than a hundred countries, depending on the passport ranking of the country you’re applying for dual citizenship.
A second passport entails travel experiences and gives you the freedom to get an insight into local markets, learn about the buying culture and make more informed decisions about the business direction and operations.
You May Also Check: Best Startup Visas For Immigrating Business Owners
Diversification Of Investments And Capital
Dual citizenship can help you move your capital to a different country. It makes it easier for you to diversify your investments and invest in any country. A second passport gives more investment and capital investment options that many business owners can take advantage of.
Attractive Real Estate Options
Citizenship by investment programs has the option to invest in real estate to become eligible for dual citizenship. These countries that have this policy implemented into their programs require investors to invest a certain amount in property in the country to boost the economy.
The properties are approved by the government and the investors can choose the real estate from a list. The cost for the property depends on the country you invest in – for example, to buy a property in St. Kitts and Nevis will cost you a minimum of $200,000 as a joint investment and you need to own it for at least 7 years.
Or you can invest as an independent investor an amount of $400,000 and hold the property for a minimum of 5 years. Grenada requires the investors to invest at least $220,000 in real estate to be eligible for the passport.
Additionally, you will own property in two countries. You will have the right to acquire the property in the country of origin and the country of dual citizenship and diversify the property ownership.
Acquire Your Dual Citizenship Now
Dual citizenship is now more available than ever with the citizenship by investment programs that are implemented in many countries. The programs allow investments to hold two passports for a variety of flexible investment options that will contribute to the country’s economy. Take help from a U.S. Citizenship Lawyer to ease this process.
To get your alternative citizenship now, consult a legal entity and hire an authorized agent to guide you through the process of acquiring dual nationality. It’s an investment worth the time, money, and resources that will pay off in the long term.